Budgeting: Excerpt from Management Policies in Local Government Finance Sixth Edition (PDF)

Budgeting is one of the most important—and time-consuming—activities of government, so getting it right is critical to success.

DIGITAL PUBLICATION | Mar 14, 2017
March 14, 2017

Budgeting is one of the most important—and time-consuming—activities of government, so getting it right is critical to success. Chief financial officers (CFOs) play a vital role in the budget process and are expected to be responsible financial stewards of the public’s funds. When the CFO handles his or her duties effectively, the budget document can serve policy, financial, operational, and communication purposes. And it can be a tool for managing conflict.
This InFocus report presents the concepts necessary for understanding the role of the budget in local government, the process used for creating budgets, and the ramifications of budgets within the community. And because the CFO is intimately connected with all of it, the report always returns to the responsibilities of the CFO and ways of effectively fulfilling them. Download this InFocus report to find out:
The terminology associated with governmental budgeting
The commonly used policies, practices, and processes of budgeting
The operating environment within which budget decisions are made
The actors who may provide input into decision making  
Techniques for gathering input on sincere preferences
The major responsibilities of the CFO relative to the government’s budget processes and budget document.
About the Author:
 
Aimee L. Franklin Franklin is a Presidential Professor in the Department of Political Science at the University of Oklahoma. She received her doctorate from the State University of New York at Albany (SUNY-Albany) and her Master of Public Administration degree from Arizona State University. Her research and teaching interests are in the areas of public budgeting and civic engagement. Prior to joining OU, she worked for the Arizona Governor's Office of Strategic Planning and Budgeting and was the Executive Vice President, Chief Operating Office and a Director for a mortgage banking firm in Arizona.
 
(2012, vol. 44, no. 3)
 

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